Last Updated: November 19, 2013

1.  The Incubation Program rental rates for small start-up companies will be as specified in the current rate rental sheets beginning at the set rate for start-up companies (currently $20/sq. ft.) and increasing by $2/sq. ft. for each year of occupancy.
2. The current rental rates (November 2013) generally begin at $20/sq.ft. and end after three years in the Incubation Program at $24/sq. ft. However, there are certain exceptional cases in which the Incubation Program may charge a premium on the base rental rate, of any amount up to the maximum allowed to other Incubation Program companies at various stages of their stay in the Incubation Program. At this time, these are as follows:
   1. A company has spent more than three years in the Incubation Program and is being urged by the Incubation Program Director or designate to graduate, but is reluctant to do so for various reasons. In this case, the Lease Holdover Clause may be applied (see Section 18 of the standard Incubation Program Lease). This rate begins at 150% of the company’s last regular rental rate and lasts for as long as the company remains in the Incubation Program, increasing at rate of $2/sq. ft. per year. The Incubation Program Committee may determine that an extension may be granted for no more than a one year period prior to instituting the Holdover Clause. Such an extension should occur only under those circumstances where it would otherwise harm the company’s prospects or when the circumstances preventing the graduation are outside of the company’s control.
   2. A company does not fit the standard criteria for being an Incubation Program company (i.e. small start-up or early stage company) but is being allowed to reside in the Incubation Program for other university related strategic reasons, including facilitating research partnerships with university faculty. In this case, the rate can be any along the continuum of standard Incubation Program rental rates.
   3. A company does not fit the standard criteria for being an Incubation Program company (i.e. small start-up or early stage company) but has been allowed to reside in the Incubation Program for a restricted period of time and for a strategic purpose. This company can be charged a rate along the continuum of standard Incubation Program rates including the Holdover rate, in an effort to encourage the company to keep to the length-of-stay restriction.